Frustrated In SA 23 Recruiting Cycle

Currently rising junior at non-target school but have been recruiting hard for 6+ months for a SA 23. Over 1000+ emails sent, 200+ networking calls, 100+ applications, and 3 interview processes. As you can tell by the title I have been unsuccessful. 

At this point, I am mentally drained. I have gotten advice and learned from the mistakes made during my previous interviews. Does anybody have any advice as I approach the final stretch of recruiting to land a SA gig? Many thanks in advance.   

Comments (8)

Aug 3, 2022 - 10:51pm
slattmx, what's your opinion? Comment below:

Biggest advice I can give you is stay consistent and don't get caught up in things like "prestige" or rankings. Sounds like you're numbers are good, so keep it up. There's tons of banks out here and all it takes is one person from there to take a chance on you. Keep it up brotha, best of luck

  • Intern in IB - Cov
Aug 3, 2022 - 11:29pm

Best of luck in your process this year. Don't stop and like the above said keep at it. But I provide the below with the best of intentions.

I can say, because it worked for me, don't shy away from a LMM bank now. Then apply to 1 yr Masters of Finance program, and recruit the following summer. There are many great opportunities at UVA, Vanderbilt, and others that place well.

Good luck - wish you the best.

Most Helpful
  • Intern in IB - Gen
Aug 4, 2022 - 5:17am

Was in a similar boat, landed a solid buyside offer at a solid shop and eventually two EBs a year later.

I would disagree with these posters, you are doing most things right but you are also probably doing something wrong in your interviews if you have done that much work. There is something about the way you are coming off, the way you are describing your work/framing your past experience, or your technical ability, that is making them not think 100% this is what a good candidate who will be a good banker looks like.

For me, I sometimes gave too long answers and tried to be too friendly sometimes and didn't seem serious enough - for bankers ofc - so I needed to strike the right balance.

  • Prospect in PE - LBOs
Aug 4, 2022 - 7:14am

Was in a similar position. Came from non-target. Good grades. No relevant experience. No connections in the industry. When I recruited for SA 2021, I didn't land a single interview. When I recruited for SA 2022, I landed just one interview and didn't get summer but they offered me off-cycle instead. However, once I had that internship on my resume I have been given interviews pretty much everywhere, many times without even applying and just sending an email to HR. Did a VC internship during the summer and heading into a PE internship during the fall. For me, the difficult thing was to land interviews. I have been offered a spot at all the places I've interviewed. With that said, if you get interviews but you fail to get the spot, the issue is not your networking skills or your resume. Instead, you are doing something wrong in the interviews. It's easy to tell if you screw up technicals so most likely it won't be that. Probably your personality or the way you present yourself. I've always found the best way to come across is as a very humble student who realizes that I am completely new in the industry and I do not pretend as if I am some god at modelling or that I know every single detail of a process. Rather, I try to emphasise that I am very interested in the industry, that I am hard-working and that I want to learn. The way to show that you actually know something is not by telling them, but by showing it in your answers on the technicals or in your questions to the interviewers. I also agree with the statement that you should aim lower. I ended up at a top 3 regional bank, which is pretty unknown internationally. The odds of ending up at a BB or EB from a non-target with no experience are extremely small. Aim for MM, LMM, regional boutique, or even big 4 M&A. You should also look into equity research/asset management/corporate banking/consulting as an internship in those areas will still help you to recruit going forward. 

EDIT: I see that you just had 3 interviews. It could be that they thought your resume really wasn't that good but still let you into the process for networking reasons and then would only give you an offer if you did exceptionally well in the interviews. With that said, you failing doesn't necessarily mean that you suck at interviewing, it just means that you need to get better at it. 

Aug 4, 2022 - 11:06am
ll-aa-dd-20, what's your opinion? Comment below:

Thank you for your response. I appreciate you giving a detailed explanation of why I have been unsuccessful to this point. I have had two internships in Finance and also run my school's investment fund. However, I am missing the crucial boutique IB internship. I am definitely targeting MM/LMM. I will also look into the Big 4 advisory. 

  • Prospect in IB - Gen
Aug 4, 2022 - 7:38am

I'm currently a non-target recruiting for SA 2023 and it defiantly is a uphill battle. I've found that reaching for a BB is very difficult to get so ive been aiming for MM or regional banks and once you get that on your resume their is always full time which would be a lot easier. I know New York is the best place to be at but maybe try aiming for Charlotte or another city where there as less kids which could make it slightly easier.

Aug 4, 2022 - 6:37pm
rabbit, what's your opinion? Comment below:

Excepturi repellat sapiente exercitationem aut quisquam cumque rerum. Ratione omnis vel sapiente blanditiis placeat deserunt. Non illum sed odio magni ab fuga laboriosam.

Totam molestiae et magnam dolorem odit debitis eos. Rerum omnis et qui et velit debitis. Fugiat vel eligendi omnis delectus omnis.

Start Discussion

Total Avg Compensation

September 2022 Investment Banking

  • Director/MD (10) $613
  • Intern/Summer Analyst (318) $407
  • Vice President (38) $392
  • Associates (209) $257
  • 2nd Year Analyst (130) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (438) $151
  • Intern/Summer Associate (83) $150